Kayrros, a Paris, France-based advanced data analytics company, raised €21m ($24.4m) in Series B funding.
The round, which brought total funding raised to date €32m ($37m), was led by Cathay Innovation with participation from Index Ventures, AtlasInvest (the investment company under the lead of Marcel van Poecke), the Primat Family Office (Primwest), and Korelya Capital.
The company intends to use the funds to further strengthen its coverage of the global crude oil value chain from production and storage through transport and consumption.
Led by Antoine Rostand, president and co-founder, Kayrros captures and analyzes data across the energy sector using innovative technologies that include satellite imagery, natural language processing, Internet of Things, and machine learning. Combining technology with in-house energy expertise, the company provides timely information on global market movements to allow customers to make more informed trading, investment, and operational decisions.
Kayrros, which has already established itself as a global leader in providing crude oil intelligence, expects to bring new granularity across energy markets, and expand to other sectors including petroleum products, power generation, natural gas, and renewables.
The company also has offices in Houston, London, New York and Singapore.